Monday, October 03, 2005

DeWitt Crossing Project Underway

I can now report that the DeWitt Crossing Project is under way. This is a land development project in Waynesboro, Virginia. It consists of 33 acres of commercial property.

What I am doing is rezoning the property to General Business, constructing a bunch of roads with sidewalks, lights etc, and subdividing the property. The idea is to sell the lots to other businesses and investors who will then build on it.

It should be a great project. We already have one fantastic retailer who will build a 40,000+ showroom. They will be the anchor. I have spots available for a bank, some restaurants, additional retail and office space.

We will go before the Waynesboro City Council and Planning Commission on October 11th. My original plans were to get this before them back in July, but as things go, my time table is always too aggressive.

Right now, I plan to get through the rezoning process and have the road design done by the first of the year. That will then put me in a position to bond the road and sell a couple more lots. Road construction should be underway by early spring.

This will be a huge project for both me and the City of Waynesboro. Certainly the city will benefit through property and sales tax revenues. Ultimately, for me this is a breakout project. I have done a number of smaller projects (in terms of money, not acreage) and have been looking to move to a higher level.

I will make periodic updates on how things are going on the project. Eventually, I plan to post a separate blog at projecthayes.com.